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    Constellation Energy Corp (CEG)

    Board Change

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    Constellation Energy Corporation (CEG) is the nation's largest producer of clean, emissions-free energy, with a diverse generation portfolio that includes nuclear, wind, solar, hydroelectric, and lower-carbon natural gas assets . The company operates through five reportable segments: Mid-Atlantic, Midwest, New York, ERCOT, and Other Power Regions, which include New England, South, West, and Canada . CEG's primary products are power sales and natural gas sales, with power sales further disaggregated by geographic region . The company also engages in wholesale and retail sales of natural gas, energy-related sales in the United Kingdom, and other energy-related products and sustainable solutions, although these activities are not significant to the overall results of operations .

    1. Power Sales - Provides electricity to distribution utilities, municipalities, cooperatives, and various customer segments across multiple geographic regions.
      1. Mid-Atlantic - Delivers power in the Mid-Atlantic region.
      2. Midwest - Supplies electricity in the Midwest region.
      3. New York - Offers power solutions in the New York area.
      4. ERCOT - Serves the Electric Reliability Council of Texas (ERCOT) region.
      5. Other Power Regions - Includes power sales in New England, South, West, and Canada.
    2. Natural Gas Sales - Engages in the wholesale and retail sales of natural gas to various markets.
    3. Energy-Related Products and Sustainable Solutions - Offers additional energy-related products and sustainability solutions, including activities in the United Kingdom, though these are not significant to the overall operations.
    NamePositionStart DateShort Bio
    Joseph DominguezPresident and Chief Executive OfficerFebruary 2022Joseph Dominguez oversees Constellation's carbon-free energy fleet, including nuclear, wind, solar, hydro-electric, and natural gas facilities across 19 states. He also manages the company's competitive retail and commodities business .
    Daniel EggersExecutive Vice President and Chief Financial OfficerN/ADaniel Eggers has been involved in signing important documents for the company, such as the quarterly report on Form 10-Q for the period ended September 30, 2024 .
    Bryan C. HansonExecutive Vice President and Chief Generation OfficerEarly 2022Bryan C. Hanson has been with the company since its launch over 2.5 years ago, following the separation of Constellation from Exelon .
    James McHughExecutive Vice President and Chief Commercial OfficerN/AJames McHugh serves as the Executive Vice President and Chief Commercial Officer at Constellation Energy Corporation (CEG) .
    Kathleen BarrónExecutive Vice President and Chief Strategy OfficerN/AKathleen Barrón serves as the Executive Vice President and Chief Strategy Officer at Constellation Energy Corporation (CEG) .
    1. With the recent FERC ruling rejecting Talend's ISA and the need for regulatory clarity on colocation, how confident are you in resolving these issues quickly to capitalize on the increasing demand from data economy customers, and what specific steps are you taking to address potential delays?

    2. Given that you expect 13% compounded growth through the end of the decade backed by federal support, can you elaborate on how potential capacity market challenges and delays in PJM auctions might impact your growth projections and strategic plans?

    3. As you have limited additional nuclear uprate capacity and high customer interest, how do you plan to manage the scarcity of this resource to maximize value without compromising on customer relationships or broader strategic objectives?

    4. With the emphasis on both front-of-the-meter and behind-the-meter solutions for data centers, how are you addressing the transmission configuration challenges and ensuring speed to market, especially in zones with potential transmission constraints like ComEd and PECO?

    5. Considering the reliance on capacity markets to incentivize demand response and new generation, how are you mitigating risks associated with potential market reforms, delayed auctions, and regulatory uncertainties that could hinder your ability to meet the growing power demand from electrification and the data economy?

    Program DetailsProgram 1
    Approval Date2023
    End Date/DurationN/A
    Total additional amount$3 billion
    Remaining authorization$991 million
    DetailsThe program is part of a strategy to return value to shareholders and capitalize on the stock's attractiveness. The Board increased the authorization to $3 billion in April 2024. As of September 30, 2024, 16.1 million shares had been repurchased for $2 billion.
    YearAmount Due (Millions)Debt TypeInterest Rate (%)% of Total Debt
    2025$1Energy Efficiency Project Financing2.20 - 4.96 0.01% = (1 / 8412) * 100
    2026$(25)West Medway II Nonrecourse Debt1-month SOFR + 3.225 -0.3% = (-25 / 8412) * 100
    2027$(22)CR Nonrecourse Debt3-month SOFR + 2.25 -0.3% = (-22 / 8412) * 100
    2033$(28)Continental Wind Nonrecourse Debt6.00 -0.3% = (-28 / 8412) * 100
    2035$(9)RPG Nonrecourse Debt4.11 -0.1% = (-9 / 8412) * 100
    2037$(15)Antelope Valley DOE Nonrecourse Debt2.29 - 3.56 -0.2% = (-15 / 8412) * 100
    2054$900Green Senior Notes5.75 10.7% = (900 / 8412) * 100
    NameStart DateEnd DateReason for Change
    PricewaterhouseCoopers LLP2022 PresentCurrent auditor

    Recent developments and announcements about CEG.

    Corporate Leadership

      Board Change

      ·
      Dec 13, 2024, 1:09 PM

      Peter Oppenheimer and Eileen Paterson have been appointed to the Constellation board of directors, effective December 16, 2024. Laurie Brlas will retire from the board effective December 31, 2024 .

      Leadership Change

      ·
      Dec 13, 2024, 1:09 PM

      Laurie Brlas is leaving the Board of Directors of Constellation Energy Corporation, effective December 31, 2024. She is retiring after a successful tenure, having provided strategic and financial insight that was instrumental in the company's performance since its spinoff in 2022 . Eileen Paterson and Peter Oppenheimer are stepping up as new Class III directors, effective December 16, 2024. Paterson brings operational experience and leadership from her roles in aerospace and energy sectors, while Oppenheimer offers financial expertise from his tenure at Goldman Sachs and Apple .